Brief: Professional Diversity Network Settled Lawsuit In Which Unit Was Named As Defendant

Professional Diversity Network

09/06/2022 11:19

June 9 (Reuters) - Professional Diversity Network Inc
 IPDN.O :
    * PROFESSIONAL DIVERSITY NETWORK - ON JUNE 7, SETTLED A
LAWSUIT
WHEREBY CO'S UNIT NAPW INC. WAS NAMED AS A DEFENDANT - FILING
    * PROFESSIONAL DIVERSITY NETWORK INC - SETTLEMENT WAS FOR A
CASH
PAYMENT OF $70,000 TO BE MADE TO PLAINTIFF
    * PROFESSIONAL DIVERSITY NETWORK INC - SETTLEMENT RESULTS IN
REDUCTION OF CO'S RESERVE AND A ONE-TIME, NON-CASH GAIN TO CO
FOR $908,658
    * PROFESSIONAL DIVERSITY NETWORK - SETTLEMENT RELATED
ONE-TIME,
NON-CASH GAIN TO BE REFLECTED IN CO'S Q2 2022 FINANCIAL
STATEMENTS

Source text for Eikon: [https://bit.ly/3tpv68R]
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 ((Reuters.Briefs@thomsonreuters.com;))